Fossil Group (FOSL) Shares Gap Down to $20.66

Fossil Group Inc (NASDAQ:FOSL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.31, but opened at $20.66. Fossil Group shares last traded at $23.19, with a volume of 247922 shares trading hands.

Several equities analysts have recently weighed in on FOSL shares. BidaskClub lowered Fossil Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. KeyCorp lifted their price objective on Fossil Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised Fossil Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, October 9th. Telsey Advisory Group lifted their price objective on Fossil Group from $16.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, August 3rd. Finally, TheStreet raised Fossil Group from a “d” rating to a “c-” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $19.20.

The firm has a market cap of $1.17 billion, a P/E ratio of 437.00 and a beta of -0.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.13.

Fossil Group (NASDAQ:FOSL) last announced its earnings results on Wednesday, November 7th. The accessories brand company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.29. The business had revenue of $609.00 million for the quarter, compared to the consensus estimate of $616.30 million. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. The company’s revenue was down 11.6% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. Analysts expect that Fossil Group Inc will post 0.77 EPS for the current year.

In related news, insider Gregory A. Mckelvey sold 26,138 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $26.00, for a total transaction of $679,588.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darren E. Hart sold 25,662 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $26.30, for a total value of $674,910.60. Following the transaction, the executive vice president now owns 116,325 shares of the company’s stock, valued at approximately $3,059,347.50. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Palo Capital Inc. acquired a new position in Fossil Group during the 3rd quarter worth $156,000. Xact Kapitalforvaltning AB bought a new stake in shares of Fossil Group in the 2nd quarter worth $207,000. Royal Bank of Canada raised its stake in shares of Fossil Group by 170.3% in the 1st quarter. Royal Bank of Canada now owns 16,660 shares of the accessories brand company’s stock worth $212,000 after buying an additional 40,353 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Fossil Group in the 2nd quarter worth $220,000. Finally, We Are One Seven LLC bought a new stake in shares of Fossil Group in the 3rd quarter worth $232,000. Institutional investors and hedge funds own 91.15% of the company’s stock.

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Fossil Group Company Profile (NASDAQ:FOSL)

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.

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